18Grant of land to Development Victoria

18 Grant of land to Development Victoria

S. 18(1) amended by No. 10/2017 s. 33(9).

(1) The Governor in Council on behalf of the Crown may grant to Development Victoria for an estate in fee simple—

(a) land divested or surrendered under this Part;

S. 18(1)(b) amended by No. 74/2000 s. 3(Sch. 1 item 35).

(b) any other land in the docklands area that is or is deemed to be unalienated land of the Crown and is not reserved under the Crown Land (Reserves) Act 1978.

S. 18(2) amended by No. 10/2017 s. 33(9).

(2) As a condition of granting land to Development Victoria, the Minister may require it to agree to pay into the Consolidated Fund or, if the land was surrendered by or divested from a public statutory body, to that body, the net proceeds of any sale of that land by Development Victoria, less any holding and selling costs.

(3) The grant—

(a) if it is of land covered with waters of the sea, must be limited to a depth of 60 metres below high water mark; and

(b) if it is for other land, must be limited to a depth of 60 metres below the surface of the land; and

(c) may contain any other terms, covenants, conditions, reservations, exceptions, trusts or limitations that the Governor in Council determines.

S. 18(4) amended by No. 10/2017 s. 33(9).

(4) Land may be granted to Development Victoria with or without consideration being given by Development Victoria.